Nonprofit · EIN 58-1940977
FOUNDATION PROPERTIES INC
Tax-exempt · COLUMBUS, GA 31907
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| July 31, 2025 | 990 | $4,075,127 | $2,408,847 | $1,666,280 | $38,199,194 | $15,061,036 | $23,138,158 |
| July 31, 2024 | 990 | $595,589 | $4,299,058 | -$3,703,469 | $37,846,619 | $16,374,743 | $21,471,876 |
| July 31, 2023 | 990 | $5,430,634 | $4,688,225 | $742,409 | $66,174,355 | $40,999,008 | $25,175,347 |
Financial details: 990 for the year ended July 31, 2025
Revenue
- Contributions, gifts and grants
- $0
- Program service revenue
- $3,226,639
- Investment income
- $968,095
- Net rental income
- -$120,218
- Net gain from sales of assets
- $754,042
- Other revenue
- -$119,607
Expenses
- Grants and similar amounts paid
- $22,469
- Other salaries and wages
- $128,438
- Salaries, compensation and benefits (total)
- $161,856
- Professional fundraising fees
- $0
- Legal fees
- $7,644
- Accounting fees
- $31,500
- Occupancy
- $31,140
- Travel
- $8,652
- Depreciation
- $1,119,053
- Program services (functional)
- $2,114,798
- Management and general (functional)
- $294,049
Balance sheet and other
- Total assets, start of year
- $37,846,619
- Total assets, end of year
- $38,199,194
- Total liabilities, end of year
- $15,061,036
- Net assets, end of year
- $23,138,158
- Land, buildings and equipment
- $21,559,240
- Net assets without donor restrictions
- $23,138,158
- Gross unrelated business income
- -$120,218
- Gross receipts
- $4,705,618
- Employees
- 0
- Volunteers
- 10
- Year formed
- 1988
- State of legal domicile
- GA
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended July 31, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| Pace Halter | Treasurer Trustee or director, Officer | 1 | $0 |
| Stuart Rayfield | CSU President Trustee or director | 1 | $0 |
| Mat Swift | Trustee Trustee or director | 1 | $0 |
| Bill Reaves | Trustee Trustee or director | 1 | $0 |
| Todd Schuster | Chair Trustee or director, Officer | 1 | $0 |
| Will Peek | Trustee Trustee or director | 1 | $0 |
| Ron Thomas | Vice Chair Trustee or director, Officer | 1 | $0 |
| Will White | Trustee Trustee or director | 1 | $0 |
| Brenda Williams | Trustee Trustee or director | 1 | $0 |
| Janet Davis | Secretary Trustee or director, Officer | 1 | $0 |
| Wade Burford | Trustee Trustee or director | 1 | $0 |
| Matt Prielozny | Trustee Trustee or director | 1 | $0 |
990 for the year ended July 31, 2024: 12 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| Pace Halter | Treasurer Trustee or director, Officer | 1 | $0 |
| Stuart Rayfield | CSU President Trustee or director | 1 | $0 |
| Mat Swift | Trustee Trustee or director | 1 | $0 |
| Bill Reaves | Trustee Trustee or director | 1 | $0 |
| Todd Schuster | Chair Trustee or director, Officer | 1 | $0 |
| Will Peek | Trustee Trustee or director | 1 | $0 |
| Ron Thomas | Vice Chair Trustee or director, Officer | 1 | $0 |
| Will White | Trustee Trustee or director | 1 | $0 |
| Brenda Williams | Trustee Trustee or director | 1 | $0 |
| Janet Davis | Secretary Trustee or director, Officer | 1 | $0 |
| Wade Buford | Trustee Trustee or director | 1 | $0 |
| Matt Prielozny | Trustee Trustee or director | 1 | $0 |
990 for the year ended July 31, 2023: 11 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| Pace Halter | Trustee Trustee or director | 1 | $0 |
| Rick Gordy | Chairperson Trustee or director, Officer | 1 | $0 |
| Mat Swift | Trustee Trustee or director | 1 | $0 |
| Bill Reaves | Trustee Trustee or director | 1 | $0 |
| Todd Schuster | Vice Chair Trustee or director, Officer | 1 | $0 |
| Will Peek | Trustee Trustee or director | 1 | $0 |
| Ron Thomas | Treasurer Trustee or director, Officer | 1 | $0 |
| Will White | Trustee Trustee or director | 1 | $0 |
| John Fuchko | Trustee Trustee or director | 1 | $0 |
| Janet Davis | Secretary Trustee or director, Officer | 1 | $0 |
| Wade Buford | Trustee Trustee or director | 1 | $0 |
Address and contacts
- Address (IRS master file)
- 4225 UNIVERSITY AVE, COLUMBUS, GA 31907-5645
- In care of
- % DR LON MARLOWE
- Principal officer (990 for 2024)
- John Calhoun, 4225 University Ave, Columbus, GA 31907
- Signed the 990
- John Calhoun, Executive Director
- Phone
- (706) 565-3640
- Return prepared by
- Dougherty McKinnon & Luby LLC
Mission
The principle purpose of Foundation Properties, Inc. shall be to promote the cause of higher education at Columbus State University, a unit of the University System of Georgia located in Columbus, GA, specifically through the management of real property affiliated with the University, holding real property for future development by the University and holding investment property for the benefit of the University.
Program accomplishments
- Holding, management and contribution of real property in support of Columbus State University.Expenses $2,114,798 · grants $22,469 · revenue $3,226,639
- Miscellaneous income primarily consisting of parking fees and application fees for student housing.revenue $611
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in July, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | July 31, 2026 | December 15, 2026 | Not due yet |
| 2024 | July 31, 2025 | December 15, 2025 | 990 on file |
| 2023 | July 31, 2024 | December 16, 2024 | 990 on file |
IRS record
- EIN
- 58-1940977
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (509(a)(2))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 1999
- Accounting year ends
- July
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Education (B124)
- Assets (IRS master file)
- $38,199,194
- Income (IRS master file)
- $4,705,618
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | July 2025 | $4,075,127 | $2,408,847 | $38,199,194 | XML |
| 990-T | July 2025 | – | – | – | IRS |
| 990 | July 2024 | $595,589 | $4,299,058 | $37,846,619 | XML |
| 990-T | July 2024 | – | – | – | IRS |
| 990 | July 2023 | $5,430,634 | $4,688,225 | $66,174,355 | XML |
| 990-T | July 2023 | – | – | – | IRS |
| 990 | July 2022 | $6,179,282 | $4,563,482 | $80,383,881 | IRS |
| 990-T | July 2022 | – | – | – | IRS |
| 990 | July 2021 | – | – | – | IRS |
| 990-T | July 2021 | – | – | – | IRS |
| 990 | July 2020 | – | – | – | IRS |
| 990 | July 2019 | – | – | – | IRS |
| 990 | July 2018 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 58-1940977).
Questions about FOUNDATION PROPERTIES INC
- What is the EIN of FOUNDATION PROPERTIES INC?
- The employer identification number (EIN) of FOUNDATION PROPERTIES INC is 58-1940977.
- Is FOUNDATION PROPERTIES INC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1999.
- Are donations to FOUNDATION PROPERTIES INC tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does FOUNDATION PROPERTIES INC file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of FOUNDATION PROPERTIES INC due?
- The return for tax year 2025 (the year ending July 31, 2026) is due December 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did FOUNDATION PROPERTIES INC last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended July 2025.
- Who is the principal officer of FOUNDATION PROPERTIES INC?
- The 990 for the year ended July 31, 2025 names John Calhoun.
- Who are the officers and directors of FOUNDATION PROPERTIES INC?
- The 990 for the year ended July 31, 2025 lists 12 people; 0 received compensation from the organization.
- How much revenue does FOUNDATION PROPERTIES INC have?
- On its 990 for the year ended July 31, 2025 it reported revenue of $4,075,127, expenses of $2,408,847 and total assets of $38,199,194 at year end.
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